May 23 Bitcoin Intraday Analysis:

Bitcoin has seen seven consecutive weekly gains, with volume barely holding up. The MACD still maintains a bullish trend in the short term:

There are signs of a pullback on the daily chart, with trading volume clearly not keeping up, and the MACD showing signs of turning as well. The 4-hour level has already started to consolidate, and the market needs to repair its pathetically low trading volume. The MACD has formed a death cross.

From the 15-minute and 30-minute levels, there is a divergence with the 4-hour chart. Based on all these signs, it seems that a range-bound market will emerge in the short term.

Wealth Code

Upper resistance at 111600

Lower support at 110500

In the short term, the direction is unclear, and the fluctuation range is too small. Those who are aggressive and cannot stand the wait can make a small swing trade.

Conservative traders can wait for a clear trend to enter the market.

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